Bank of America Corp DE increased its position in shares of First Foundation Inc (NASDAQ:FFWM) by 18.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 87,675 shares of the bank’s stock after buying an additional 13,782 shares during the quarter. Bank of America Corp DE owned about 0.20% of First Foundation worth $1,127,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. purchased a new stake in shares of First Foundation during the 4th quarter valued at approximately $33,000. Quantamental Technologies LLC purchased a new stake in First Foundation in the fourth quarter valued at approximately $35,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in First Foundation by 118.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,890 shares of the bank’s stock valued at $37,000 after purchasing an additional 1,570 shares during the period. Acadian Asset Management LLC purchased a new stake in First Foundation in the fourth quarter valued at approximately $126,000. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in First Foundation in the fourth quarter valued at approximately $239,000. 60.90% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on FFWM. BidaskClub lowered First Foundation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 24th. Zacks Investment Research raised First Foundation from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Wednesday, April 10th. Finally, ValuEngine lowered First Foundation from a “sell” rating to a “strong sell” rating in a research report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $19.08.
Shares of NASDAQ FFWM opened at $14.31 on Friday. The company has a market capitalization of $638.51 million, a price-to-earnings ratio of 12.23, a PEG ratio of 1.67 and a beta of 0.83. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 1.08. First Foundation Inc has a 52-week low of $11.79 and a 52-week high of $20.43.
First Foundation (NASDAQ:FFWM) last announced its earnings results on Wednesday, April 24th. The bank reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. The company had revenue of $49.51 million for the quarter, compared to analyst estimates of $50.83 million. First Foundation had a return on equity of 9.54% and a net margin of 17.42%. Analysts predict that First Foundation Inc will post 1.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.20 annualized dividend and a dividend yield of 1.40%. First Foundation’s dividend payout ratio (DPR) is 17.09%.
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First Foundation Profile
First Foundation Inc, through its subsidiaries, provides financial services to individuals, businesses, and other organizations in the United States. It operates in two segments, Banking; and Investment Management and Wealth Planning. The company offers a range of bank deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; and loan products consisting of multifamily and single family residential real estate loans, commercial real estate loans, and commercial term loans and lines of credit, as well as consumer loans, such as personal installment loans and lines of credit, and home equity lines of credit.
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